Digital Assets Take in $117M Last Week

Takeaways

• Digital asset investment products saw US$117m inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to US$28bn, up 43% from their November 2022 lows.
• The focus was almost entirely on Bitcoin, which saw US$116m inflows last week, although there were also minor inflows into short-bitcoin of US$4.4m.
• Multi-asset investment products saw outflows for the 9th consecutive week totalling US$6.4m, suggesting investors are preferring select investments.

Digital asset investment products saw US$117m inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to US$28bn, up 43% from their November 2022 lows. Investment product volumes are improving with US$1.3bn traded for the week, up 17% compared to the YTD average, while the broader digital asset market has seen average weekly volumes rise by 11%. Investment products remain only 1.4% of total volumes on trusted exchanges.

Germany was the focus this week seeing 40% of all inflows (US$46m), followed by Canada, the US and Switzerland which saw US$30m, US$26m and US$23m respectively.

The focus was almost entirely on Bitcoin, which saw US$116m inflows last week, although there were also minor inflows into short-bitcoin of US$4.4m, suggesting opinion remains polarised.

Multi-asset investment products saw outflows for the 9th consecutive week totalling US$6.4m, suggesting investors are preferring select investments. This was evident in altcoins as Solana, Cardano and Polygon all saw inflows, while Bitcoin Cash, Stellar and Uniswap all saw minor outflows.

Blockchain equities saw inflows totalling US$2.4m, although looking across providers reveals sentiment remains polarised.

Contact James Butterfill at [email protected]